It is not that M1 shadowing will be seen as more important than research by residency directors. It won't. However, it might give med students a real view into some of these competitive specialties early on so that they can decide WHICH specialty in which they should start doing research by M1 summer.
This is my day job - advising medical students while in medical school. I have had students spend 3 years being ORTHO gunners and then do ORTHO rotation and decide that it is not for them bc they 1. hate back pain clinic OR hate that their life is completely scheduled and therefore controlled by the OR scheduler. I had another student decide during his second UROLOGY rotation that it was a lot more work than he thought and that he did not like the surgeries. You can imagine it was worse when he ultimately applied in OPHTHO and his application was full of urology research and urology student interest group leadership roles, and UROLOGY rotations. (He ultimately had to take 2 years of after med school to do OPHTHO research to prove his dedication to a change in specialty.). Another Neurosurgery prospective decided that with the imminent birth of his first child, that he wanted to be more of a family man - in a way that his own MD father had not. This could have been avoided by some shadowing and some introspection. My recommendation is that when med students first arrive to medical school, they need to immerse themselves in the material, and make friends/support systems, begin to learn the new language of medicine, and get exposure at a new level, to a host of specialties before jumping into research in the "wrong" competitive specialty. I think it is akin to asking a 13 yo which college they would like to attend. They might have ideas, and some end up at exactly where they wanted to be when asked at 13yo, but many others choose somewhere different...